The Producer Price Index in March rose 0.2% from the previous month, a lower rate of growth than economists had forecast -- The percentage of companies that have defaulted on their debt more than once has reached its second highest level since 2008, according to a new report from S&P Global Ratings.Chinese Cement Maker Halted After 99% Crash in 15 Minutes
Higher-than-estimated consumer inflation has lowered expectations for the number of rate cuts from the Federal Reserve this year. That so called higher-for-longer environment will make it more difficult for the most leveraged, high-risk companies, especially those that have already defaulted. Such transactions only provide “a temporary reprieve to issuers in regaining their footing,” said S&P, which labels those as “selective defaults.”
TORONTO — The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto on Thursday, saying it will take effect Aug. 1. "Faced with a shortage of housing options and increasingly high rent and home prices, younger Canadians understandably feel like the deck is stacked against them," Freeland said in a news release.
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